Downside Prevails
Our Pivot: 36.50
Our Preference: Start short selling EPCL below 33.96 and average out till 36.50 with strict stop loss of 36.50 and profit target at 29.97 with extension towards 28.25.
Alternate Scenario: Upward penetration of 36.50 will call for 38.75 and 39.50.
NOTE: EPCL is moving downward after getting resistance from a strong trend line along with a horizontal resistance on weekly chart. While daily and weekly momentum indicators also have turned their directions in bearish side.
Weekly Chart with Supports & Resistances:
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